Wealth Inequality in America

Politizane's gripping video explains not just the wealth gap, but the understanding gap: most American's understand there is a gap between rich and poor, but vastly underestimate its size. Cory Doctorow writes:
This 2012 video from Politizane does an excellent job of illustrating the massive, well-documented gap between the wealth-distribution that Americans believe they have, the distribution they would favor (regardless of political affiliation), and what America actually has: a system that rewards CEOs at 380 times the rate of their average employees.
Spotted via Boing Boing.

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"Wealth Inequality in America" draws a striking picture, but is that the whole story?

Wealth inequality may be real, but is it unfair? And what does it mean for a society to be unfair?

The distribution of wealth in America is dramatically lopsided towards the 1%

"Wealth Inequality in America" misses a central point: do the poor in our society regularly lift themselves out of poverty? "How easy is it, or how difficult is it, for folks who start off poor, to no longer be poor?"

People often say that "the rich are getting richer while the poor are getting poorer." This characterization is largely a myth.

Real income levels of the poorest 20 percent of Americans have actually risen over time. Further, the individual households that comprise the bottom income bracket do not stay the same. The majority of Americans in the poorest 20 percent become wealthier over the course of their lives. Want to learn more? Check out these resources:

• Op-ed on Inequality, by Prof. Horwitz: http://www.ajc.com/opinion/data-overl...

• Cox. W. Michael and Richard Alm. Myths of Rich and Poor: Why We're Better Off Than We Think, New York: Basic Books, 1999.

• Reynolds, Alan. "Has U.S. Income Inequality Really Increased?" Policy Analysis 856, Cato Institute, January 5, 2007. Available online at: http://www.cato.org/pubs/pas/pa586.pdf

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